Changes to Car Insurance Premiums

[compuclean]

Just heard about this yesterday, so Googled it and found this information.

In a nutshell:

Insurance changing from 20 Groups to 50 Groups, to reflect the amount of cars/models on the road.

Insurance premiums will go up because:

"Advances such as electric windows, computer systems and air bags mean that small cars that would have fallen into a cheaper category under the old system are now very expensive to repair. So-called 'super-minis' can match the power and expensive add-ons of much larger cars."

"Diesel engines are now more sophisticated and turbo diesels have more power at medium speed. Insurers say this creates a greater chance of accidents, and a greater cost when accidents happen."

"The new rating system also takes into account the weight of a car. The greater the weight of a car, the greater the damage when they hit something, and the more expensive the claim."

Full aricle here:

http://www.thisismoney.co.uk/insura...ml?in_article_id=418187&in_page_id=4&ito=1565

Sorry to be the bearer of bad news... don't shoot the messenger...

 

[KM-Tiger]

Looks like the insurance industry has been learning from our esteemed Chancellor.

I'm sure this will be good for us really.

 

[Eagle]

Mine's gone from a group 6 to group 15... :| We shall see.

 

[Astaroth]

Anything that talks about the insurance industry as a whole should be taken with a pinch of salt. We have put cars into 100 groups for the last 25 years, my previous employer also didnt use the ABI guide on car groupings.... I am sure that there are some that do, just never come across one personally

 

[Rob Holmes]

Bottom line is there is enough competition around to keep prices as low as they are.

Rob